SM Investments nets P43B, riding on postpandemic rebound

Sy family-led conglomerate SM Investments Corp. is poised to end 2022 on a high note after booking a profit surge of 50 percent to nearly P43 billion in the first nine months of the year. | miguelrcamusINQ /PDI

“With encouraging results, we remain confident about sustained growth in the fourth quarter,” he added.

The conglomerate closed the first three quarters with revenues of P381.9 billion, up 31 percent versus the same period in 2021. The conglomerate’s banking segment contributed 45 percent to net earnings, followed by property, with a share of 23 percent; retail, 19 percent; and portfolio companies, 13 percent.SM ended September with total assets of P1.5 trillion and strong balance sheet, with net debt of 38 percent against equity of 62 percent.

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